Skyway Aviation Handling Company (SAHCO) has reported a substantial increase in revenue, with a growth of 28% from N8.6 billion in the previous year to N11.1 billion in 2022.
According to SAHCO’s audited financial results for 2022, pre-tax profit rose by 14.69% to N4.37 billion, compared to N3.81 billion recorded in 2021.
The SAHCO board has approved a dividend of 16.50k per ordinary share of 50k to its shareholders, amounting to N223 million, the same dividend paid in the previous financial year.
During the period under review, SAHCO’s total assets improved by 18.74% to N29.22 billion, demonstrating significant growth compared to N24.61 billion in 2021.
Speaking at the 13th Annual General Meeting held in Lagos, the Chairman of SAHCO, Dr. Taiwo Afolabi, highlighted the company’s substantial investments made in the year to enhance its capacity to serve clients. These investments included the acquisition of modern equipment, provision of new facilities, and capacity development for staff and board members.
Dr. Afolabi also shared that the company’s financial report for Q1 2023 indicated a positive growth trajectory, expressing confidence in achieving even greater success in the next financial year.
He stated, “Our first quarter financial year result has shown that we are making more money. So, we will surprise them by next year and maybe double whatever we are giving them this year. We are confident that this is going to happen in the next financial year.”
